Time Equities Inc Secures $160 Million Construction Loan From M&T Bank For Boynton Beach Development
120 Southeast 1st Avenue
$160,000,000
Units
433
Asset Type
Development Site
Closing
Apr 20, 2026
AI
The asset involved is a development site located at 120 Southeast 1st Avenue in Boynton Beach. The project encompasses a 3.77-acre municipal site intended for the Town Square development. It is set to include 465 apartments, 6,300 square feet of retail space, and 50,000 square feet dedicated to amenities, with the potential for further expansion to an additional 433 units on an adjacent parcel.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $160,000,000
- Lender: M&T Bank
- Landlord: Francis J. Greenburger - Time Equities Inc
- Loan Type: Construction
Time Equities Inc., led by Francis J. Greenburger, secured the construction loan from M&T Bank to facilitate the development of the Town Square project. This public-private partnership aims to enhance the urban landscape and provide a mix of residential, retail, and community amenities.
Players
Boynton Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93